Neuste Medienmitteilungen

Disclosure of shareholdings as of 27 February 2008 (2)

Based on article 20 of the Federal Act on Stock Exchanges and Securities Trading (SESTA) UBS AG, Bahnhofstrasse 45, 8098 Zurich, makes the following announcement.

As of 27 February 2008 UBS AG held a stake of 8.22% of acquisition positions (proportion of voting rights) of registered shares of UBS AG. These comprised 160,035,778 (7.72%) registered shares of UBS AG with voting rights and 4,391,161 acquisition rights with 4,156,422 (0.20%) voting rights and 95,000 disposal rights with 6,237,691 (0.30%) voting rights.

At the same time UBS AG held 475,926,202 (22.95%) disposal positions (proportion of voting rights) of registered shares of UBS AG. These comprised conversion rights on 252,525,253 (12.18%1) registered shares of UBS in the form of mandatory convertible notes ("Mandatory Convertible Notes") to be issued to the Government of Singapore Investment Corporation Pte. Ltd. (GIC) and another investor on March 5, 2008, 5,833,142 disposal rights with 9,692,357 (0.47%) voting rights, 126,970 written acquisition rights for registered shares of UBS AG with 23,863,611 (1.15%) voting rights and 189,844,981 employee options with 189,844,981 (9.15%) voting rights. 150,121,702 (7.24%) shares to be issued based on conditional capital are available to service the employee options.
1) Excluding dilution from the stock dividend and MCN.

Based on the maximum number of shares to be issued under the Mandatory Convertible Notes, GIC and the other investor, as a result of the conversion, would hold approximately 10.4% of UBS's shares (after distribution of the stock dividend and in the absence of any dilutive events).

UBS directly and indirectly holds the acquisition and disposal positions through the following companies:

The notification obligation was triggered by Letter Agreements dated 9 December 2007, concluded between UBS AG on the one hand and GIC and another investor on the other hand regarding the purchase by GIC and the other investor of Mandatory Convertible Notes in the amount of CHF 13 billion. In its recommendation dated 30 January 2008 the Disclosure Office of the SWX Swiss Exchange granted an adjournment of the notification.

The Mandatory Convertible Notes have the following terms:

Issuer: UBS Convertible Securities (Jersey) Ltd.

Underlying: Conditional capital created at the extraordinary general meeting of UBS AG of 27 February 2008

This disclosure is being made pursuant to the simplification of the reporting requirements through the Disclosure Office of the SWX Swiss Exchange. Details about the required disclosure of the acquisitions and the disposal positions will be provided on demand and free of charge (contact: UBS Investor Relations, +41-44-234 41 00) via e-mail, fax or mail.